This deep dive is one in a series of posts diving deep into every detail about BKT’s new features. We’ll explain them with the largest amount of information possible, but please don’t hesitate to share your thoughts with our Discord Group or email our support! Now onto the best way for you to get rewards while also referring to your friends, family and more!
Some of you might remember Blocktane’s Refer-a-Friend program, mostly popular over the second semester of 2021 with remarkable results: Blocktaners were referring their friends, family and followers to sign-up with their codes, with over 350 videos from more than 200 different youtube channels reaching more than 450 thousand total views from all around the world.
The quest for good trading content
Blocktane will continuously create unbiased, good and free content to enable more and more people to understand the most of trading features and the best strategies to collect and share.
On August 1st, in order to incentivize spreading the word and complement the BKT Liquidity Mining Program, the BKT Fee Sharing Program was launched.
Blocktane has introduced new rewards tiers that allow you to earn a percentage of the trading fees paid by your referred accounts. Any account you ever referred to is eligible to accrue rewards for you.
The exact amount you might earn is dependent on the volume traded by the referred account — their trading fee tiers which establish the amount they pay in trading fees, and the rewards tier of your own Blocktane account.
Fee Sharing
When you invite users to join Blocktane signing up with your referral code, their accounts and yours will be linked. Every trade that they execute incurs in fees that are now shared to their referrer according to the Fee Group set by staking BKT.
Talking about Blocktane programs in videos, blog posts, websites and/or social media groups can be an easy way to get unlimited monthly rewards!
First step
Getting started staking and unstaking is easy:
- Acquire some BKT by buying on Blocktane, depositing from any external balance you may have, or earn some from our Liquidity Mining Rewards Program
- Navigate to your Profile page in your Blocktane account and find the “Change Fee Group”
- Select both a Trading Fee tier and Fee Share tier. You can select any combination of the two types of benefits depending on your preference to earn a high proportion of fee share rewards or discounted trading fees for your own account.
- After selecting one of each benefit category, you will be shown a required amount of BKT to stake to activate these benefits.
- Once you stake the required BKT, the applicable trading fee and fee share benefits will immediately be activated for your account. The BKT staked will be locked and unavailable for trading, withdrawal, or any other uses until you unstake it.
- You may unstake your BKT at any time you wish by navigating to the “Change Fee Group” button again in your Profile page. By changing your trading fee and fee share tiers you may reduce, or completely remove your amount of BKT staked. Upon confirming your decision to unstake the displayed amount of BKT, your benefits will immediately be changed to the new applicable level. Unstaking BKT activates an unstake timer which will return the BKT amount to your liquid account balance five (5) days later.
- Any BKT unstake requests will be displayed in your Profile page under the Pending Stake Refund title with the amount and return date shown.
What Fee Rewards Are Paid?
Blocktane calculates your fee share rewards in real-time based on trading fees paid by your referred accounts and rewards you in units of BKT.
Any trading fees paid by a referred user in BTC, USDC, ETH, or any other asset paid by a user in Blocktane’s order books is converted in real-time to a BKT equivalent value, and summed and accrued for payout.
Referrers’ fee share rewards are calculated per calendar month and are paid after the end of the applicable month.
For example:
Lucy referred User B to Blocktane.
User A has staked BKT to be eligible for a 40% fee share reward from the activity of User B.
User B has staked BKT to have a trading fee tier of 0.25% and sells some BTC for 400 USDT.
User B pays a total fee of 1 USDT for the transaction
The price of BKT in USDT is 0.02.
User A’s reward is calculated as (40% x 1 USDT) = 0.40 USDT, then converting to BKT is 20 BKT.
The more users you refer, the more potential reward you can earn!
If you have 1 or 1,000 accounts which registered with your referral code you can earn fee share rewards from every trade they make. All you need to do is ensure you have staked some BKT in your account to be at the valid fee share tier, and encourage your referred accounts to drive their trading to Blocktane!
When learning about cryptocurrencies and trading, everybody is looking for good content to learn more. Every user wants to be able to make better decisions and judge by themselves how trustworthy a platform can be with proper asset custody and cybersecurity measures, and we’re eager to help!
Share your content to us with the hashtag #blocktane and tag our official channels, we are here to provide you accurate information.
